Jadi Bernstein recently released a quite bullish note for Bitcoin. They said BTC has already found the bottom and is ready for further rally, with the year-end target still at $150,000. Currently, Bitcoin is trading around $70,950, down 2.43% in the last 24 hours.

What’s interesting about this analysis is that they see the chart as a key indicator that momentum is starting to shift. After a 45% correction from the peak, Bernstein believes this is not a fundamental collapse but a temporary adjustment in market sentiment. They note there is no systemic pressure like what is usually seen during previous crypto crashes.

One focus is Bitcoin’s performance versus gold. Since the Iran conflict at the end of February, BTC has outperformed gold by 25%, indicating that crypto is still viewed as a safe haven asset during tense geopolitical periods.

For Bitcoin exposure, Bernstein remains bullish on MicroStrategy (MSTR). They maintain an outperform rating with a target price of $450. This company now holds about 3.6% of the total Bitcoin supply, worth $53.5 billion. Additionally, their STRC instrument is gaining more interest, offering an 11.5% monthly dividend with low volatility. STRC trading volume has increased 65% over the past three months.

From an institutional perspective, demand remains strong. ETF flows are still solid, and banks are becoming more active in Bitcoin services. This signals that institutional adoption continues despite short-term volatility.

So the bottom line is, if Bernstein’s analysis is correct, we might be in a good position for accumulation. Many are still cautious after this correction, but the fundamentals for a long-term bullish case remain intact. Worth keeping an eye on the chart and market structure at key support levels going forward.